1) Using leverage, a thread with an example.
When I was new to crypto and trading in general (2017) I quickly discovered leverage trading.
A rookie mistake is thinking that it is a fast way to get rich or something.
....

2) In general, I'm a cautious trader, so luckily I only spent a few % of my total portfolio. 2018: First few lucky trades went well, but after that I los a few and ofcourse, went in bigger. Didn't touch my Btc holdings tho. Never.
But believe me, I blew a few Bitmex accounts
..

3) 2019: Started developing myself as a trader and didn't trade leverage at all. Started to become profitable
2020: Started to look at low leverage again. Mostly under 5x, never above 10x.
Since in general it is going quite well, I now sometimes use more than 10x. .....

4)So the first time since 2018.
I use low lev on htf setups and sometimes, when I got the time, a high leverage play with a small amount on ltf,so I can manage it.
So I took a 20x cross, small amount $Sxp trade on binance futures and want to give you 3 scenarios I'm looking at
..

5) $Sxp Scenario 1:
I used sxp bec I like the fundamentals, there is hype around it and I think it found at least a temporary bottom.
Entry and thoughts on the chart.
So this scenario implies that we take out the recent highs but close below (sfp). I exit long, short trig given

6) Scenario 2: Hope U noticed my entry wasn't really good or something. The sfp of the double bottom and a strong buy candle afterwards was maybe way better. But that's also because we can see how it developed :)
TL;DR Off to the races

7) Scenario 3: It doesn't play out the way I want to and I cut it. Simple as that.

8) TL;DR Moral of the story: DYOR and don't take my thread for granted in the first place!
Only use higher leverage when you're more experienced, IMHO.
Study books, watch valuable stuff, etc. before jumping on the leverage train. Wish I knew in 2017
Feel free to share!

9) And ofcourse, the higher leverage, the higher your risk. So the lower the amount you use for that trade, to still play with the risk rules you've set for yourself.
@DaanCrypto mentioned it and it had to be in this thread. Thnx buddy! :)
Stay safe and don't get liquidated!